Publication: People's Republic of Bangladesh - Revenue Mobilization Program for Results : VAT Improvement Program
Date
2014-04
ISSN
Published
2014-04
Author(s)
World Bank
Abstract
In accordance with the Bank s OP/BP
9.0 an Integrated Fiduciary Systems Assessment (IFSA) was
carried out to determine whether the fiduciary systems
pertaining to the Program provide reasonable assurances that
the Program funds will be used for their intended purpose.
The IFSA comprised an assessment of the fiduciary risks
relating to: (a) procurement; (b) financial management; and
(c) governance (including fraud and corruption risks) of the
implementing agency (the VAT Wing of NBR) which accounts for
95 percent of the Bank-supported Program financing over the
next five years. An additional 5 percent of funds will be
spent through the ERD as the coordinating agency and the
agency responsible for hiring the third party entity for
independent verification and reporting to the World Bank.
For disbursement purposes, the Bank retains the right to
make the final decision whether DLIs have been achieved or
not. The conclusion of the IFSA is that the overall
fiduciary framework is high risk, but with risk mitigating
measures, it is adequate to support Program implementation
and to achieve the desired results.
Citation
“World Bank. 2014. People's Republic of Bangladesh - Revenue Mobilization Program for Results : VAT Improvement Program. © Washington, DC. http://hdl.handle.net/10986/20060 License: CC BY 3.0 IGO.”